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Sales decline 14 percent on weaker demand, adjusted EBITDA falls 19 percent
Against the backdrop of the worldwide recession triggered by the Corona pandemic, Evonik is getting through the crisis well. Nevertheless, sales and earnings in the second quarter decreased compared to the previous year due to significantly weaker demand in some markets. Company sales fell by 14 ...
Healthcare and Performance Materials more strongly affected by the Covid-19 pandemic than Life Science
Merck registered the effects of the Covid-19 pandemic in all business sectors in the second quarter. Healthcare and Performance Materials were affected most strongly. In comparison with the year-earlier quarter, Group sales increased by 3.7% to € 4.1 billion. EBITDA pre, the Group’s most ...
Ensuring employee safety and maintaining supply chains remain top priorities
The Bayer Group’s businesses turned in a solid performance in the second quarter of 2020 despite the COVID-19 pandemic and the associated uncertainties. “Thanks to the growth in our agricultural business, we raised EBITDA before special items – and we did so in a challenging environment,” said ...
For the third quarter, BASF does not expect EBIT before special items to improve significantly
As expected, the economic effects of the corona pandemic had a much stronger impact in the second quarter of 2020 than in the first quarter of this year. Customer industries were affected to varying degrees: BASF was particularly negatively impacted by the collapse in demand from the automotive ...
Stronger growth and higher profitability expected for the Bioprocess Solutions Division and the entire Group
Based on the strong performance of the Bioprocess Solutions Division in the first half of 2020 as well as on high demand also expected to continue for the rest of the current fiscal year, Sartorius raised its full-year sales and earnings guidance for this division and thus for the entire Group. ...
The largest ever private investment into direct air capture
Climeworks has successfully raised CHF 73 million (USD 75 million) in equity from private investors. This is the largest private investment into direct air capture to date. The funding will help to drive forward the company’s scale-up roadmap and expand its carbon dioxide removal ...
Compensation reduction for Supervisory Board, Board of Management and top management level
Specialty chemicals company LANXESS proved robust in the first quarter of the year – despite the weak economic environment due to the coronavirus pandemic. Earnings in the new Consumer Protection segment and in the Specialty Additives segment developed positively, significantly mitigating the ...
High uncertainty about future economic developments in 2020
BASF Group’s sales in the first quarter of 2020 increased by 7percent compared with the prior-year quarter to €16.8billion. This was mainly driven by a 4percent increase in volumes. Income from operations (EBIT) before special items was €1.6billion, down by 6percent compared with the first ...
High-Tech Gründerfonds and Bayern Kapital invest in IT start-up
High-Tech Gründerfonds (HTGF) together with Bayern Kapital has invested a seven-figure sum in Munich-based IT start-up Erium as part of a seed financing round. SAR Elektronic GmbH is also on board as a co-investor. Erium’s software solution HALerium is used to model and optimise highly complex ...
Activities marked by COVID-19
The Bayer Group has registered a good start to 2020, with business activities in the first quarter greatly marked by the COVID-19 pandemic. “With our life science product portfolio in the areas of health and nutrition, we have shown our ability to successfully continue our business operations in ...